BJP-ruled Madhya Pradesh to get $800 million from BRICS bank

State gets more money than Brazil, Russia & South Africa put together

It’s been almost two years since the BRICS bank (or the New Development Bank) was set-up. Headquartered in Shanghai and headed by former Infosys chairman KV Kamath, the BRICS bank’s lending progress till date has been impressive. Few days before the BRICS summit began in Xiamen, the bank finally approved projects worth $1.4 billion which had been in the pipeline for a year now.

One of them was the rural drinking water supply scheme in Madhya Pradesh. The BRICS bank has extended a $470 million loan to the government of India for executing the project. This is just the beginning